VW says it won’t cooperate with Tesla – Stock climbs

VW is strengthening its position on electric mobility, and the company’s CEO has said it won’t cooperate with Tesla on electric vehicles. The German company lately is particularly active in the evolution of its electric models since it constantly enriches its range.

VW wants to become the dominant car maker in electric vehicles by 2025, and in recent days its stock has been gradually rising. Recently the share price reached 235 euros while the total capitalization of the company exceeded 45 billion as of the beginning of 2021.

VW says it won't cooperate with Tesla

Herbert Diess, VW’s CEO in a recent interview, said there was no possibility of working with Tesla.

This period is perhaps the most critical for the entire industry. Over the next 15 years we will see an overall turnover of the industry. Electric cars take the lead and then software really becomes the main driver of the industry.

Electric cars are already very, very competitive today and become more competitive over time, which gives us confidence that this is the right way forward. Electric cars will further reduce the cost of individual mobility.

We haven’t thought about working with Tesla. We’re going our own way. We want to get close to her and then pass her. We think we can. We need our own software, our own technology. So no, there are no talks with Elon Musk about joining forces.


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